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Weekly Trading Forecast: FOMC, GDP, Greece and Much More Ahead
There is an avalanche of high-level event risk due in the week ahead. Be ready for the risk and opportunity.
Japanese Yen to Look Past BOJ Decision, Focus on Greece and FOMC
The Japanese Yen is likely to look beyond the BOJ policy announcement to focus on Greek funding matters and the outcome of the FOMC rate decision.
Dollar Ready to Reverse Should FOMC, GDP Give its Consent
The stage is set and the curtain is rising. The Dollar has wobbled these past weeks, but it hasn’t managed to turn its nine-month long bull trend.
Gold Plummets Alongside USD Ahead of FOMC- Key Support 1173
Gold prices fell for a third consecutive week with the precious metal off more than 2.17% to trade at 1177 ahead of the New York close on Friday.
AUD/USD to Eye March High on Less-Dovish RBA, Fed Delay
AUD/USD is likely to face increased volatility in the week ahead amid the key developments coming out of the U.S. economy.
British Pound Likely to Rally Further, but Watch these Two Key Risks
An important jump in interest rate expectations helped push the British Pound to fresh two-month highs versus the US Dollar.
USD/JPY Carves Bearish Formation in April- 118.20 Support in Focus
The near-term decline in USD/JPY may gather pace in the week ahead should the Fed show a greater willingness to further delay its normalization cycle.
Upbeat U.S. Durable Goods to Keep EUR/USD Contained Within Range
A rebound in orders for U.S. Durable Goods may prop up the greenback and keep EUR/USD within its near-term range as it boost interest rate expectations.
Euro to Look Past IFO Data, May Rise Amid Bets on Greek Funding Deal
The Euro may ignore German IFO data, rising amid speculation that Eurozone officials will reach a deal on Greek funding at a meeting in Riga.
NZD/USD Failure to Close Above 0.7700 Raises Risk for Near-Term Top
NZD/USD appears to be carving a near-term top especially as the bullish RSI momentum comes under pressure.
GBP/USD to Target 1.5150 Objective on Strong U.K. Retail Sales
Another expansion in U.K. Retail Sales may encourage a larger rebound in GBP/USD as it encourages the BoE to adopt a more hawkish tone for monetary policy.
Global Yields Jump Most in Months - Where to Now?
Global bond yields posted their biggest daily jump this past session since February, but this move is far from a true reversal.
Pound May Prove More Responsive Than Euro to Eurozone PMI Data
The British Pound may prove more responsive than the Euro as April’s Eurozone PMI figures show the pace of regional growth continues to improve.
GBPJPY Breakout Eyes 181- Long Scalps Favored Above 179
GBPJPY has broken through significant technical resistance with our scalp bias weighted to the topside. Here are the updated targets & invalidation levels that matter.
What are the Critical Dates for Greece and the Euro?
Ongoing Greek debt negotiations with the European Union remain a major risk. Here are the critical dates to watch for potentially significant market volatility.
GBP/USD Close Above 1.5000 to Generate Larger Rebound on Hawkish BoE
The near-term rebound in GBP/USD may turn into a larger correction as the BoE adopts a more hawkish tone for monetary policy.
Keep an Eye on GBP-crosses from Here
The British Pound is exhibiting early signs of ending its month-long slumber.
Gold Looks to US Home Sales Data to Inform Fed Policy Outlook
Gold is looking to US home sales data to drive Fed policy speculation but a definitive breakout seems unlikely. Crude oil may fall as inventory gains accelerate.
British Pound May Rise as BOE Meeting Minutes Reboot Rate Hike Bets
The British Pound is likely to rise if minutes from April’s Bank of England policy meeting reflect a hawkish tone shift, boosting interest rate hike speculation.
GBP/USD 1.5000 Resistance Vulnerable to Unexpected BoE Dissent
A dissent within the BoE may spur a larger rebound in GBP/USD as Governor Carney continues to prepare UK households and businesses for higher borrowing-costs.
AUD/USD Range Resistance at Risk on Sticky Australia Core CPI
Stickiness in Australia’s core rate of inflation may prompt a rebound in AUD/USD as market participants scale back bets for a RBA rate hike.
GBPCAD Testing Slope Resistance- Long Scalps at Risk Sub 1.84
The GBPCAD rebound has approached initial resistance just shy of 1.84 with the long-side now at risk. Here are the updated targets & invalidation levels that matter.
USD/JPY Outlook Remains Mired by Bearish Momentum- 120.55 in Focus
USD/JPY may continue to face range-bound prices ahead of the BoJ & Fed policy meetings as market participants weigh the outlook for monetary policy.
EUR/JPY, EUR/USD Triangles Continue to Develop Downside Potential
Short-term technical indicators are close to turning outright negative for various EUR-crosses.
Euro to Look Past German ZEW Data as Greece Worries Loom Large
The Euro is unlikely to find follow-through in German ZEW data as Greece worries preoccupy investors ahead of the weekend’s Eurozone summit.
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